I welcome my fellow traders! I have made a price forecast for the USCrude, XAUUSD, and EURUSD using a combination of margin zones methodology and technical analysis. Based on the market analysis, I suggest entry signals for intraday traders.
The euro is trading in the 1.0315 – 1.0260 channel.
The article covers the following subjects:
Major Takeaways
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USCrude: oil is trading in a correction within a short-term uptrend and testing the Gold Zone 77.21 – 76.95.
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XAUUSD: gold is maintaining its short-term uptrend.
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EURUSD: the euro is trading in the range of 1.0315 – 1.0260. Wait until the price breaches the upper or lower boundary of the range to open trades.
Oil Price Forecast for Today: USCrude Analysis
Oil is trading in a downward correction within a short-term uptrend with the target at the support 76.35 – 76.05. Once this zone is tested, consider long trades with the first target of 77.70 and the second one near 79.36.
Notably, the Gold Zone 77.21 – 76.95 is a strong support level. If the price remains within this area, consider long trades near this zone with the main target at the January 15 high.
USCrude Trading Ideas for Today:
Buy at support (A) 76.35 – 76.05. TakeProfit: 77.70, 79.36. StopLoss: 75.44.
Gold Forecast for Today: XAUUSD Analysis
At the beginning of the trading session on Monday, gold slightly increased but failed to exceed last week’s high. Consequently, a downward correction may unfold within the short-term uptrend. If the correction develops, the quotes may drop to the support (A) 2667 – 2661 or support (B) 2638 – 2629. Once these zones are tested, consider long trades with the main target at last week’s high.
If the price continues to climb and consolidates above the 2724 level, the next bullish target will be the upper Target Zone 2773 – 2756.
XAUUSD Trading Ideas for Today:
Buy at support (A) 2667 – 2661. TakeProfit: 2693, 2724. StopLoss: 2650.
Euro/Dollar Forecast for Today: EURUSD Analysis
The euro is trading in the 1.0315 – 1.0260 channel. The short-term trend remains bearish. Therefore, consider short trades near 1.0315 with the target at 1.0260. If the asset consolidates below 1.0260, consider short trades with the main target at the January 13 low.
if the price pierces and consolidates above the 1.0315 level, one may consider long trades with the main target in the upper Target Zone 1.0481 – 1.0453.
EURUSD Trading Ideas for Today:
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Buy above 1.0315. TakeProfit: 1.0400. StopLoss: 1.0288.
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Sell below 1.0260. TakeProfit: 1.0177. StopLoss: 1.0288.
Would you like to learn more about technical analysis methods and principles? Explore our comprehensive guide.
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Price chart of EURUSD in real time mode
The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteFinance. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC.
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